Top crypto tweets of the day – May 16th

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• Oil is being dethroned in Saudi Arabia by this new shiny thing

  Description Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their … Read more Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their national image and economy. A Soccer Revolution in the Desert Kingdom Yes, the oily sheen of Saudi’s wealth is making waves in the football world. Forget the quiet pilgrim trails of Mecca and Medina for a moment; the spotlight now also dances on the football pitches where international legends like Christiano Ronaldo and Neymar Junior now play. The staggering transfers of these athletes to Saudi football…

  Article 2023年9月13日

• Malaysia, Indonesia, and Thailand promote domestic currency use in bilateral transactions

  TL;DR Breakdown Bank Negara Malaysia (BNM), Bank Indonesia (BI), and Bank of Thailand (BOT) have collectively entered into three bilateral Memorandum of Understanding (MoUs). The move is aimed at enhancing collaboration in advancing the utilization of domestic currencies in bilateral transactions. Description Bank Negara Malaysia (BNM), Bank Indonesia (BI), and Bank of Thailand (BOT) have collectively entered into three bilateral Memorandum of Understanding (MoUs) aimed at enhancing collaboration in advancing the utilization of domestic currencies in bilateral transactions. In a combined statement, the central banks highlighted that these MoUs constitute the establishment of a Framework for Cooperation … Read more Bank Negara Malaysia (BNM), Bank Indonesia (BI), and Bank of Thailand (BOT) have collectively entered into three bilateral Memorandum of Understanding (MoUs) aimed at enhancing collaboration in advancing the utilization of domestic currencies in bilateral transactions. In a combined statement, the central banks highlighted that these MoUs constitute the establishment of a Framework for Cooperation designed to facilitate and foster bilateral transactions conducted in local currencies among the respective countries. Malaysia, Indonesia and Thailand strengthening collaboration Bank Indonesia Governor Perry…

  Article 2023年8月25日

• KuCoin’s controversial transfer of ETH and USDT to burn address revealed

  TL;DR Breakdown Thousands of Kucoin deposit addresses transferred millions of dollars worth of ETH and USDT to Ethereum’s burn address in September 2021. The transfers involved over 3500 transactions and occurred for three consecutive days. The burn address is a one-way destination where assets become unrecoverable and removed from circulation. In a recent discovery, thousands of Kucoin deposit addresses have been found to have transferred tens of millions of dollars worth of Ethereum (ETH) and Tether (USDT) to the Ethereum burn address back in September 2021. The news, revealed by Conor, Director at Coinbase, had seemingly gone unnoticed until now. From September 7, 2021, over 3500 transactions involving ETH and USDT occurred for three consecutive days, all directed toward Ethereum’s invalid address. This concrete action should have been more considered, considering the amount involved and the implications it could have. Burns took place over 3 days beginning 9/7/21 and involved 3500+ transactions of USDT and ETH Perhaps they had a one-off agreement with Bitfinex to redeem the USDT? No idea why they would burn the ETH though😀https://t.co/InUBl2yhQC All data from…

  Article 2023年6月2日

• Binance’s delisting of privacy tokens in Europe sparks innovation in crypto privacy solutions

  TL;DR Breakdown European exchange Binance plans to delist privacy tokens in several countries, including France. The move by Binance may drive increased investment within the cryptocurrency space.  Regulatory authorities are engaging in dialogue with industry participants to find common ground and foster responsible cryptocurrency use. In a dynamic twist to the evolving landscape of cryptocurrency regulations, European exchange Binance announced plans to delist privacy tokens in several countries, including France, Italy, Poland, and Spain. Starting from June 26, Binance customers in these regions will no longer be able to trade privacy tokens such as Monero, Dash, and Zcash, among others. This move comes as Binance aims to comply with local laws and regulations and continue serving its users. Privacy-focused tokens like Monero and Zcash have long been central to debates between crypto enthusiasts and governments worldwide. While these tokens offer enhanced anonymity by obfuscating blockchain transactions, authorities have expressed concerns about potential money laundering and terrorism financing activities facilitated by such privacy features. However, the industry’s response to these regulatory pressures involves innovation and adaptation. Cryptocurrency exchanges and developers are…

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• Tether hits $3.3B in excess reserves, holds $72.5B worth of U.S. Treasury bills

  TL;DR Breakdown Tether has released its assurance opinion for Q2 of 2023, highlighting a $850 million rise in excess reserves to reach $3.3 billion. Tether’s operational profitability was $1 billion from April to June 2023, with a 30% rise over Q1 2023. USDT’s market cap hit a new high in July, approaching $84 million. Description Tether Holdings Limited published its assurance opinion for Q2 of 2023, highlighting a $850 million rise in excess reserves to reach $3.3 billion. The report shows that Tether has been adding on its treasury reserved holding for USDT tokens. The report is the first time the company has disclosed its indirect exposure to United States … Read more Tether Holdings Limited published its assurance opinion for Q2 of 2023, highlighting a $850 million rise in excess reserves to reach $3.3 billion. The report shows that Tether has been adding on its treasury reserved holding for USDT tokens. The report is the first time the company has disclosed its indirect exposure to United States Treasury bills held by money market funds, where it holds about $72.5…

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